FEATURES OF THE FORMATION OF THE SYSTEM OF NEO-PROTECTIONISM IN THE CONDITIONS OF THE SIXTH INNOVATION WAVE

A. A. Maltsev () and S. V. Chichilimov ()

International Trade and Trade Policy, 2023, vol. 9, issue 3

Abstract: The beginning of the third decade of the 21st century was marked by a sharp escalation of foreign trade wars. In the context of imposition of global challenges such as fragmentation of the world geo-economic space, forced adjustments in the energy transition policy, exacerbation of antagonism between developed and catching them up developing countries, and the prospects of a new wave of innovations, the declining effectiveness of classical defensive foreign trade tools is becoming increasingly clear. Simultaneous weakening of the positions of economic leaders - the United States of America and the European Union allows applicants for their place in the world hierarchy from among the developing countries to join the race for the economic initiative of a new way of life. In these realities, a system of neo-protectionism is being formed. The process of legalization of hidden protectionism and the creation of a system of secondary and tertiary sanctions serve as a catalyst for the transformation of protective mechanisms. The main features of the emerging system are the ever-increasing going beyond the perimeter of the exclusively economic sphere and the expansion of extraterritorial tools for influencing the competitor's economy. The formation of the system of neo-protectionism takes place in two planes: on the one hand, the tasks of protecting the positions of the hegemon by restraining the economic growth of the nearest competitors are being implemented, on the other hand, the countries claiming leadership, by launching countermeasures, are looking for opportunities to fend off the threats and, if possible, build up an innovative industrial base.Â

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:acl:journl:y:2023:id:624

DOI: 10.21686/2410-7395-2023-3-19-35

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